If you want 50% water savings, no program required, just add an instant hot water heater at each sink and tub, it will cost between 1K and 5K and reduce the average time of hot water from 1 minutes, to 3 seconds or less. When was the last time you let the water run for over a minute after it was at the temperature you need?

We get the need of the paper to have things to report, it's another thing to be the megaphone for every hair brained scheme that rolls out of City Council.

how about some investigative journalism and see what the facts are? Simple Google searches give you everything you need.

You give Jim Reed more than fair access to your columns and is a conflict of interest to the residents of the community who need and deserve fair and equal access, during an election year.

How about a story that shows how many Reed editorials, opinions and story leads are for his benefit? There are 5 on the Council, but any story that is slightly edifying has Jim as the recipient.

I think it's time for the paper to limit the access. Either he is a sports writer, or he is a community leader. The paper is supposed to monitor the City government and allowing a Council member in their midst serves neither well. It casts a shadow of suspicion upon the paper and shows that the council member is bluring the roles of responsibility toward the residents he is supposed to be representing.

Scotts Valley needs new leadership.

This is the prefect storm of bull crap.

This project is so full of problems, that the program itself indicates a lack of support that will make it a viable choice.

While it sounds like it's a win win, here is the reality.

The underwriting and loading order criteria, state that all liens will be senior in position, and that it requires you mortgage company to take a second position, in effect.

Then look at the minimum amount of $5,000. But even at the upper end on $75,000. You could loose your home if you can't pay for the improvement - it preserves the contractors lien, and places it under the auspices of the tax department.

Wow, what a bargain.

The program isn't even concerned about the ability to repay. They only approve the program for properties with enough equity. It has criteria set so low to be qualified that it includes "Borrower can't have had a Bankruptcy in the last 7 years".

it goes on..

They also require the borrower to submit to ongoing inspections, surveys, data collection. It also requires a home owner to attend a workshop so they can understand the implications. Once they have you , they have your home until you pay it off.

They also can REQUIRE you to make total system upgrades when you only want one piece. I'm not making this stuff up.

"Property owners will also be required to participate in similar incentive programs for solar

thermal (hot water) systems and home energy efficiency retrofits"

(link below downloads the doc)

http://www.google.com/url?sa=t&source=web&ct=res&cd=5&ved=0CBcQFjAE&url=http://burnettecoenergy.com/userfiles/file/CAFirst%20Program%20Information%20Report.pdf&ei=E7YSS4r1ComSsgPa6IWDDw&usg=AFQjCNHjekoYR2O8ivjxvAad1dLsRg9k7A&sig2=dv5rn33NnXxkeyKFV-irOQ

GOVERNANCE:

The City Council is touting the possibility of the grant money like the ephemeral town center. It just doesn't exist. But it looks good in the paper. The portion they are going after wold cover, with tax payers maony, the cost to adminsitrate the program for the City, but not the borrowers.

In fact, the program specifically states that the County fees can be as much as 3% and the program adminstrative costs be as much as 5%.

That's above and beyond the ineterest in the the finance terms.

So in essence, For a comparable rate, They want to make an unsecured expense that you could just put on your credit card and convert it to this expensive tax payer program and put your home on the line.

but I guess if my friends are jumping from the bridge, I should too??

So if they are not providing us with a better choice in affordability or risk, why is the City Council pushing it?

Lets assume there are 5,000 eligable homes and businesses. Out of that about 5% of primary lenders would approve being moved to a second position on their loans. (that's being liberal)

Then lets say the average project cost would be 20K, and that means that 20 Million would enter the program.

But since the program has 2 options, 1 for the rich and one for the poor, that requires just basic weather proofing etc, that cuts this by at least half. So about 10 million.

That is the amount borrowers will take out. for about 250 projects.

And the program administration fees do not match the benefit of the program. 15 Million?

once second, I have to laugh.

Ok, I'm back.

This program requires state wide participation because that's the only way it can accrue enough benefits to bother reporting.

What we are talking here is shoring up a few jobs in the construction trades, but in reality it's about making money for some contractors, are there any on the council that come to mind? No wonder they think it's such a great idea.

Here are a few others items of voodoo economics.

This program required both the unpaid interest and unpaid assessment fees to be paid, even if the loan is paid off early.

No property is eligible if it has had a Notice of default or foreclosure within the previous 5 years.

No involuntary liens over $500 on the property.

Requires 80% loan to value. Unless it's a public loan then it's 90% - (tax and spend)

It's limited, and only until the tax money runs out. So the promises made are speculative at best and misleading.

This program enables big government, little government to raid your pocket, at the tax payers expense, on the back of homeowners under the guise of an environmental program.

If someone decides to turn over their home for $5,000 hotwater tank retrofit, then this is not the panacea the Reed and teh council is hoping for.

If they want to actually make a historic improvement to the environment, attract the kind of long lasting taxes that tourism brings, follow the lead of Daryl Tempesta and bring in a Scenic Route designation.

Then you won't have to rely on smoke and mirrors to fund operations that should probably benefit from some belt tightening. Or better yet, stop raiding the general fund to the tune of 2 million dollars, so you won't need to beg Sacramento for handouts.

We need new leadership.

So they have criteria that qualifies the property, and makes sure that the owner hasn't declared bankruptcy in